Zhang Daqian, Lotus and Mandarin Ducks, 1947, sold for $24.5 million at Sotheby’s Hong Kong last year
Art-market analysts have been aflutter since news hit that two Chinese artists, Zhang Daqian and Qi Bashi, took over the top auction-earner spots last year — beating out former titleholders Pablo Picasso and Andy Warhol. Zhang works brought in $506.7 million and Qi did $445.1 million, while Warhol earned $324.8 million and Picasso $311.6 million. In fifth place is another Chinese artist, Xu Beihong, who generated $212.9 million. Read More
The art market defied the economic gloom to return 11 per cent to investors in 2011, outpacing stock market returns for a second consecutive year.
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